Bank of Montreal Can Decreases Holdings in Chemed Co. (NYSE:CHE)

Bank of Montreal Can trimmed its position in shares of Chemed Co. (NYSE:CHE - Free Report) by 42.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,473 shares of the company's stock after selling 4,055 shares during the quarter. Bank of Montreal Can's holdings in Chemed were worth $3,279,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Chemed by 34.4% during the second quarter. GAMMA Investing LLC now owns 86 shares of the company's stock valued at $47,000 after buying an additional 22 shares during the last quarter. American National Bank & Trust bought a new position in shares of Chemed during the third quarter valued at $61,000. Mather Group LLC. boosted its stake in Chemed by 60.5% in the 2nd quarter. Mather Group LLC. now owns 183 shares of the company's stock worth $99,000 after purchasing an additional 69 shares in the last quarter. Quarry LP grew its position in Chemed by 721.7% during the 2nd quarter. Quarry LP now owns 189 shares of the company's stock valued at $103,000 after purchasing an additional 166 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new stake in Chemed during the 3rd quarter valued at about $201,000. 95.85% of the stock is owned by hedge funds and other institutional investors.

Chemed Price Performance

Chemed stock traded down $13.61 during mid-day trading on Thursday, reaching $555.75. 83,257 shares of the stock traded hands, compared to its average volume of 85,729. Chemed Co. has a 12-month low of $523.33 and a 12-month high of $654.62. The business's 50-day moving average is $576.77 and its 200-day moving average is $565.09. The stock has a market capitalization of $8.36 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 2.40 and a beta of 0.46.

Chemed (NYSE:CHE - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing the consensus estimate of $5.76 by ($0.12). Chemed had a net margin of 12.69% and a return on equity of 27.86%. The business had revenue of $606.18 million for the quarter, compared to analysts' expectations of $612.22 million. During the same period in the previous year, the company earned $5.32 EPS. Chemed's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Chemed Co. will post 21.43 EPS for the current fiscal year.

Chemed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Chemed's dividend payout ratio (DPR) is presently 10.11%.

Insider Transactions at Chemed

In other Chemed news, EVP Spencer S. Lee sold 732 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $575.62, for a total value of $421,353.84. Following the sale, the executive vice president now owns 18,287 shares in the company, valued at $10,526,362.94. The trade was a 3.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Walsh III sold 400 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $597.47, for a total transaction of $238,988.00. Following the transaction, the director now directly owns 3,046 shares of the company's stock, valued at $1,819,893.62. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,845 shares of company stock valued at $3,978,798 over the last three months. Corporate insiders own 3.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CHE shares. StockNews.com upgraded shares of Chemed from a "hold" rating to a "buy" rating in a report on Saturday, November 30th. Royal Bank of Canada reduced their price objective on Chemed from $697.00 to $633.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th.

About Chemed

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.